Passive Income is a source of income generated from less effort. Income from rental properties, investing in the stock market, and engaging in affiliate marketing are examples of passive income opportunities. There are many streams of generating passive income. In this article we will explain Ten ideas to generate passive income in 2022.
1.Teespring
Teespring is a print-on-demand platform where you basically just create layouts. You don’t need any paid software for this, you can do it completely free. There are many applications to help you design. So you don’t have to be an artist or a creative. But you’re just creating catchy and trendy things to put on t-shirts, mugs, or different clothes. And then you upload it to Teespring. And create a virtual list. And then people can come and buy it. They pay for everything, Teespring prints and ships it, takes care of customer service, and simply deposits the proceeds directly into your account that you can pay for.
This is great for anyone, because there is no upfront cost. It’s literally just you finding ideas on the internet, creating them and uploading them to Teespring. It can only be an hour after work every day, and you will be able to create five or six, maybe 10 designs, every day, upload them to Teespring. And you start to compound this, you do this for a while and then you will have 100, 200, 300 different designs in Teespring while still working at your job full time. Once can sell these designs in other websites like Merch by Amazon and Redbubble so you can make double money with same designs.
2. Online Sales
Online sales in 2022 online sales actually surged by 56% which was the Biggest increase since 2008 this means there is such an opportunity in the online space just waiting to be snapped up for anyone. Working remotely and shopping online are much more common now, so I think it’s safe to say that now is a better time than ever to start selling online. Every passive income requires at least some work sometimes the reality is that starting an online business won’t be passive in the beginning but once you’ve got things up and running they can start to run themselves. My assistant started his ebay business with USD 500 and has now generated USD 350000 from selling low value items like iphone cases. Many people are making millions of dollars selling products on platforms like Ebay, Amazon and ETSY and even through their own websites.
3. Teaching Courses
Udemy is a course platform where you can put together a course, and they sell pretty cheaply. And it’s an easy way for people to purchase any kind of a package course that goes through a lot of things in detail. One can make money when more and more people your course. Course is prerecorded video and Udemy is taking care of selling your course. No matter if you are sick or not working, still you make money when someone buys your course.
4. Affiliate Marketing
If you don’t want the headache of selling your own products then you can actually make money selling other people’s products. Imagine riding a jet ski in amazing weather while making money from content you created a year ago using affiliate marketing. The rewards can keep coming, it can be a great source of passive income, and the best part is that it can have pretty unlimited potential.
The beauty of affiliate marketing is that it doesn’t take much to get started, which is always a bonus. It’s really in your control as the better quality of traffic you drive the better results you will get. This can be done through writing blogs on social media and posting reviews.
So when someone continues reading the article and says, oh, that product is perfect for what I’m looking for. They can click that, they go over to Amazon or wherever you’re referring that product through an affiliate network, and they can purchase it. And then the website they bought it from gives you a commission for sending that traffic and getting that sale. You will get most of your traffic through Google searches. We can mention affiliate link in YouTube video description section, whenever someone clicks the link in the description and buys the product, you will make profit.
5. Ebates Referral Program
Ebates is a plugin you put on your computer and as you go shopping on the internet, coupon codes will pop up and you’ll get cash back when you’re buying something. It’s basically to save you money. However, if you refer someone, you send your link. It’s basically your affiliate link or your referral link from your Ebates account to someone else. They install the plugin and then they go and they end up purchasing $25 worth of things online. That could be in a year from now. If they use that to save money and they get money back ’cause they’re saving that cash back at the coupon. When they spend $25, they get $10 just from Ebates and you get $25 for referring them. So it’s such a simple way, it cost you nothing. But you just make an Ebates account, share your link with people on Facebook, family and friends. It’s very easy to get 10 people very quickly and it’s $250. But you just share the link with people. Now, if they don’t already have Ebates, they just click they install it, completely free. And then once they use it to purchase $25, they’re gonna get 10 bucks, and you’re gonna get 25. So it’s a very easy way to make money online. And it can be passive. You do a huge marketing burst in the beginning, you share it with Facebook everywhere you possibly can. And you’ll get all kinds of people signed up, and then you just wait. You wait for them to spend $25 online using Ebates So they get money back, and then they will start converting in the future. It might take a month or might take two months before they spend $25 online, but like Amazon is one of the Ebates partner sites. So when they buy $25 worth of stuff on Amazon that’s gonna count as the conversion. And then Ebates gives them 10 bucks and gives you $25. So you do all the work up front and then you just watch as they convert, and you collect your money as they’re converting down the road.
6. YouTube channel
Anyone can start YouTube channel . All you need is a phone and an internet connection. YouTube can be seen a lot like digital real estate. It takes a lot of work to get the video structured and posted but once they’re up they can just keep getting views and bringing in income with no further work needed from you.
The ideas researching, filming, editing all of that stuff is pretty hard although if you’re talking about something you love. It doesn’t really feel like work at all it’s all about putting your efforts into creating what i call evergreen videos. These are the types of videos that always get views for example how to get a girlfriend or how to get followers on instagram.
Lots of people ask me down the golf club how do people even make money on YouTube. To be honest it’s all down to those annoying ads, you see at the beginning and in the middle of the videos. This is called adsense and what this basically means is in return for YouTube putting these ads on your videos you get a 55 slice of the revenue generated. However you can’t just start YouTube and make money. First you need to attract a thousand subscribers and four thousand hours’ worth of watch time to become monetized. Now according to a recent study on average it takes 15.5 months to get a thousand subscribers on YouTube and a grand total of 164 videos.
7. Real Estate
This one might not be for everyone as you do require a little bit of money to get started. But in my opinion it’s one of the absolute best ways of making passive Income and growing your net worth over time. The amazing thing about real estate is that you can multiply your money by leveraging a small amount of cash to take control of a property with cash flow. Just think that you are controlling an asset and profiting from it when you don’t even own it, of course the most obvious way to do this is by putting in a few tenants so they can pay your mortgage for you. is that you can use the rent to pay the mortgage each month and also have a small amount left over for yourself. Once the property is paid off all of the rent generator can slide straight into your pocket of course this is a bit over glorified and there are things like maintenance and other costs that can sneak up on you but it’s a great way to generate passive income and it’s really worked well.
8. Retail Stores
Before opening a store there is a lot to consider such as location niche and if you have a hungry customer base i like to call this the golden triangle. If one or more of these things aren’t correct then you’re headed for failure. A lot of people start a shop through passion which causes them to take their eye off the numbers this is the fatal flaw i see in many businesses. This leads to them going bankrupt or even worse becoming a slave to their own business.
9. Brand Deals
There’s been a huge shift recently in the advertising industry. There’s been a huge shift recently in the advertising industry. In the past, the only way for advertisers to reach their intended market was to use traditional media such as television and radio. Back in my day it was the yellow pages, check out how thick this directory used to be but now everything is changing and these big brands are now reaching out to people who have created an online following and I don’t mean the big ones either Companies are actually more interested in what they call micro and nano influencers, as they have a stronger connection with their audience and are therefore more targeted. I think this is an amazing time to be alive as it is breaking down the barriers between traditional media and the common person. This, therefore, is returning power to the people. Now is the best time to start building your personal brand, as it might be the most important thing you have ever done.
10. Stocks and Crypto
I’m putting this as a bonus one as until you sell your stocks and crypto you haven’t actually realized your profits and therefore i don’t think i can class this as a consistent income. Stocks and crypto have to be one of the easiest ways to generate passive income and it’s definitely something you can get started on right away with any amount of money. Investing from a young age has been the best decision i ever made and has allowed me to generate millions of dollars in passive income over my lifetime. It only takes the price of a coffee a day invested in a low-cost index fund to become a millionaire and if you want more or you just want to get there faster you guessed it ,just invest more.
So hopefully that shed some light on the Ten different income streams. Just want to advise you better to diversify your income streams into these Ten income streams. Initially start with one or two when you are working with your job. Slowly when are experienced you can leave the job and concentrate on passive income.
